Have you ever seen an election season so dedicated to the intricacies of taxes? Mitt Romney must be glad he paid accountants to run the numbers, since just 4 years ago I seem to recalls number of issues with TurboTax. So yes, I’ve never heard this much ranting and raving about taxes, even though the last time a very rich person from Massachusetts ran for President there were many similarities. So, let’s talk a little bit about two different things – ‘Marginal’ rates and ‘Effective’ rates.
Sports are a funny thing, especially on an international stage. All sorts of sappy lines have been spilled about international sports – that they are a base of the global community, they foster goodwill between nations, they celebrate the world coming together. Let’s cut to the chase – sports were originally a pretty solid tool to develop better, stronger, faster soldiers, at least before automation and weaponry closed the gap. Even look at the word which denotes a follower or supporter of a team – ‘fan’. That word, of course, is short for ‘fanatic’, which describes excessive devotion to something – whether religion, politics, or yes… sports. Yes, if international sports is good for one thing – it’s as a proxy for war. I’d much rather Ireland and Great Britain battled it out on a track than a battlefield. Same goes for China and the US, the ultimate rivalry of the last two games.
About a month ago, my colleague Cameron penned an article about the Mortgage Interest Deduction – namely, whether it is a good idea or not. For an itemizing taxpayer in the 25% bracket, he pointed out, “The bank receives 4.0% interest, the homeowner pays 3.0% and the taxpayer is left footing the 1.0% difference.” Right – and the bank ends up pocketing the subsidy.
If there is anything in politics sillier than Congressional Job Approval polls, I’ve yet to find it – yet here I am writing about it. Ostensibly, these polls are set up to gauge the public’s trust in Congress – to get an idea about the public mood regarding our elected leaders.
In reality, the entire setup of the poll is a sham. Here’s the thing – unlike the President, the average voter cannot vote out the average Congressman (or woman). The truth is, Congress is set up in the way that it is strictly to avoid the public’s mood from tearing the House and Senate apart.
One of the interesting things about writing on a Personal Finance site is that while you write for your readers and yourself, you are part of a broader community which informs your opinions and gives you reason to examine your own views on many topics. We at Don’t Quit Your Day Job have now been around for (almost) three years, covered a large number of financial topics, introduced a number of personal financial strategies, and delved into too-great detail on subjects which had mildly interesting data.
Well, Newt Gingrich took down previous favorite Mitt Romney in a shocker in South Carolina. What can we say about the upset? These exit poll posts will continue until morale improves!
You can read the cross-tabs here.
Welcome to the Weekender, the highlight of everyone’s week! (And isn’t that what really disappoints you during the week- the fact that DQYDJ is so far away from posting another Weekender?)
From Occupy Wall Street to Bank Transfer Day it seems like every time I turn on the TV there is another protest. Occupy Wall Street began in New York City and has gone viral around the globe.
A guest post from Paul at The Frugal Toad, the newest featured link on DQYDJ!
Next month, the minimum wage in America is going to raise from $6.55 an hour to $7.25 an hour. The $6.55 to $7.25 jump is the last of the increases to the minimum wage under the Fair Minimum Wage Act of 2007. The minimum wage is a sexy law; politicians can stand hand in hand with the lowest income workers and say, “I’m fighting for you!”. Unfortunately, the low income workers are holding the hands that hold them down.